On the other side, trustee Rigby contended Wednesday that releasing the Mastros from jail would be a mistake because Michael Mastro "will run again" and it would take months or years to find him and track down more assets for creditors.

Michael R. Mastro’s bankruptcy is one of the largest in Washington state history. He has listed $587 million in liabilities and $249 million in assets. So far, unsecured creditors have gotten back little more than a penny on the dollar.

Frush and Terrier say that most of the money recovered by the trustee has been used to cover legal fees. The bankruptcy case has generated about $8 million in legal fees, and only about $2 million to $2.5 million has been returned to the creditors.

Rigby said that initially Mastro claimed "not a nickel" in assets, and that Rigby and his team had to litigate to seize property, including $8 million for a house. "It was a very expensive process," Rigby said, adding that "nearly all of the fees have been incurred because of the actions of Michael R. Mastro."

Terrier said Rigby and his lawyers have “made some mistakes under French law, (and) this could potentially lead to surprises. We’ll see.” He said he may have an announcement on the case next week.

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